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Hanover projects $15 million operating balance in FY26 third‑quarter report
Summary
Director of Finance Lauren Knoll told supervisors the county projects a general fund operating balance of about $15 million for FY26 driven by stronger property tax collections and personnel/operating savings; she also presented revenue and expenditure projections for the Department of Public Utilities and the school operating fund.
Director Lauren Knoll presented Hanover County’s FY26 third‑quarter financial report for the nine months ending March 31, 2026, summarizing revenues, expenditures and year‑end projections.
"Operating revenues through March 31 totaled $258,600,000 and that's approximately 65.1% of appropriated revenues," Knoll said, then outlined projections showing total revenues of roughly $400,300,000 (about $3.2 million above the appropriated budget) and a projected general fund operating balance near $15,000,000 to be applied to the FY27 county and school budgets and five‑year capital plans. Knoll attributed the variance mainly to higher general property taxes and personnel and operating savings.
Knoll also reviewed the Department of Public Utilities, projecting total revenues of about $38,900,000 (approximately $870,000 above budget) and operating expenses roughly $30,300,000. For the school division operating fund she reported projected revenues of $262,600,000 (about 2.4% below appropriated budget) and expected personnel savings of approximately $6,000,000.
Following the presentation, board members had an opportunity to ask questions; the report was received and placed on the record. No board amendments or votes to change appropriations were recorded at the meeting.
